As manufacturers capitalized on strong demand for certifiable units and lower supply of off-rental p

Wholesale prices strengthened sports car rental in March above both seasonal and year-ago levels. Off-rental units, which were in greater abundance last March, were a driving factor in this March s results, according to the latest Kontos Kommentary from ADESA Chief Economist Tom Kontos.
Delayed off-rental supply sports car rental translated into higher off-rental prices, which contributed to higher overall average wholesale used vehicle prices. On top of that, retail used vehicle sales rebounded strongly in March after being depressed by severe weather in January and February. The resulting sports car rental strong demand also contributed to higher overall prices, says Kontos.
To the extent off-rental volume sports car rental was hindered by winter conditions and a late Easter, this volume should be forthcoming sports car rental soon. And along with expected off-lease volume growth, it will put downward pressure on prices sports car rental as seen in previous months, says Kontos.
According to ADESA Analytical Services monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, sports car rental wholesale used vehicle prices in March averaged $10,429 up 6% compared to February and up 4% relative to March 2013. All segments, except minivans, registered month-over-month increases. Pickups and SUVs experienced particularly strong year-over-year price increases.
As manufacturers capitalized on strong demand for certifiable units and lower supply of off-rental program cars, prices for used vehicles remarketed by manufacturers were up 3.9% month-over-month and up 8.2% year-over-year. Prices for fleet/lease consignors were up 8.8% sequentially and up 4.5% annually in part due to tight supplies and strong demand for off-rental risk units.
For dealer consignors, there was a 7.5% average price increase versus sports car rental February and a 4.5% uptick versus March 2013. This indicated solid wholesale absorption of high trade-in sports car rental volume from strong March new vehicle sales.
Based on data from CNW Marketing/Research, retail used vehicle sales were up almost 50% month-over-month, as severe weather conditions eased. And March sales of certified pre-owned sports car rental (CPO) vehicles were up 15.3% from the prior month and up 8.6% from the prior year, according to figures from Autodata.
This Kontos Kommentary analysis is based on nearly six million annual sales transactions from more than 150 of the largest U.S. wholesale auto auctions, including those of ADESA as well as other auction companies. ADESA Analytical Services segregates these transactions to study trends by vehicle model class.